Brazilian export prices for the 65 percent iron sinter feed fines have reached $259/mt, CFR China conditions, against $244/mt late last week, setting another daily all-time record, the last of which was reached on Monday, at $260/mt.
Export prices for Brazilian blast furnace grade pellets stands today at another all-time record, $325/mt, also CFR China conditions.
The premium of pellets in relation to sinter feed fines is expected to increase further, reflecting the demand for products allowing for direct charge in blast furnaces, avoiding the emissions usually associated to the sintering process.
Although still reflecting high prices of steel products and fears of undersupply, the high level of iron ore prices seems to be approaching a ceiling, dictated by increased volatility in futures contracts, according to a risk notice issued by China’s Dalian Commodity Exchange (DCE), which includes not only iron ore, but also coking coal.